URANIUM ENERGY CORP: Regulatory FD Disclosure, Financial Statements and Exhibits (Form 8-K)

Section 7.01 Disclosure of FD Regulations

On July 20, 2022, Uranium Energy Corp. (the “Company” or “UEC”) has issued a press release announcing that it has filed a Technical Report Summary (“TRS”) on EDGAR disclosing Mineral Resources for the Texas Hub & Spoke In-Situ-Recovery (“ISR”) Project (the “Project”).


  ? As a U.S. domestic and domiciled company, UEC is now reporting all mineral
    resources in accordance with Item 1302 of Regulation S-K ("S-K 1300");

  ? S-K 1300 was adopted by the Securities and Exchange Commission ("SEC") to
    modernize mineral property disclosure requirements for mining registrants and
    to align U.S. disclosure requirements more closely for mineral properties with
    current industry and global regulatory standards;

  ? The mineral resource estimates set forth in this TRS have not previously been
    reported under the S-K 1300 format; and

  ? The Project geology is considered amenable to low-cost, environmentally
    friendly ISR mining methods.

The TRS was prepared under SK 1300 and was deposited on August 11, 2022with the
SECOND via EDGAR on Form 8-K and is also available on SEDAR as a “Material Document” filed on August 11, 2022. The TRS has been prepared on behalf of the Company by Western Water Consultants, Inc. d/b/a WWC Engineering, de Sheridan, Wyoming.

Amir AdnaniPresident and CEO, said, “The release of assets in the new SK 1300 format at our South Texas Hub and Spoke production platform further confirms the robust nature of the project. Our drill results database, containing decades of exploration logs, shows strong potential for project expansion and also aligns well with our initiative to increase the production license at the Hobson plant. We are satisfied with the progress of the company’s national SRI profile in Texas and Wyoming as we continue to progress these projects toward near-term production. UEC recently submitted an offer to the WE government to provide the uranium (“UR”) reserve and we look forward to our production ready projects meeting the future needs of the UR as well as the utility industry.

Andy KurusVice President of Resource Development, Texassaid, “We are excited about the expanded production prospects of our Hub and Spoke production platform in
south texas. We see significant potential in this area and will seek to advance our exploration and resource delineation efforts which will benefit from our extensive resource database, containing results from 5,232 drill holes, including survey coordinates. , neck elevations, depths and grade of uranium intersections. The quality of this comprehensive data has allowed us to identify promising resource areas without significant new drilling costs and has accelerated our exploration processes by defining new production areas for our near-term production strategy.”

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About Texas Hub & Spoke Project

The project comprises five project areas (“Figure 1-1”): Hobson Central Processing Plant (“CPP”), Burke Hollow, Goliad, Palangana and Salva; and is located in Karnes, Bee, Goliad and Duval Counties, Texas. The Hobson CPP will serve as the ‘hub’ of the project, with the other areas of the project serving as satellite facilities or ‘spokes’. The Hobson CPP will process all ore mined from each of the other project areas. The project is in the South Texas Uranium Province (“STUP”), which is part of the south texas portion of coastal plain of the Gulf of Basin of Mexico (“GMB”).

The mining rights for the project are all private mining leases (paying). Mining royalty leases are obtained through negotiation with individual mine owners.

The project resides in the GMB. The GMB spans much of south texas and understand the Texas coastal plain and STUP where the Project is located. The coastal plain is bounded by the rocky mountain uplift in the west and pours into the Gulf of Mexico. The coastal plain is composed of marine, non-marine, and continental sediments ranging in age from Paleozoic to Cenozoic.

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                  [[Image Removed: uec20220812_8kimg001.jpg]]

Uranium mineralization at the Project is typical of Texas rolled-front sandstone deposits. The formation of rolled-front deposits is largely a groundwater-related process that occurs when uranium-rich, oxygenated groundwater interacts with a reducing environment in the subsoil and precipitates uranium. The most favorable host rocks for roll fronts are permeable sandstones with large aquifer systems. Interbedded mudstone, clay and siltstone are often present and contribute to the formation process by concentrating groundwater flow.

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To date, UEC has data from 5,232 drill holes that have been completed by UEC and former uranium exploration companies on and near the five UEC-owned project areas. Drilling data, including survey coordinates, neck elevations, depths and grade of uranium intersections, have been incorporated into the UEC database.


Recent developments and operations include all work that has been carried out to develop and operate the properties of the project from the writing of the last technical reports to update the resources and development in each area of ​​the project.

Summary capital and operating cost estimates are not included in this TRS, as the UEC reports the results of an Initial Assessment (“IA”) without an economic analysis. No new construction/development has taken place at Hobson CPP or Salvo since the 2010-2012 drilling campaign. However, UEC has initiated drilling projects on Palangana, Goliad and Burke Hollow in 2010-2015, 2014 and 2019-2021, respectively. UEC also activated several well fields in Palangana to produce uranium from 2010 to 2016.


From 2010 to 2015, UEC drilled 891 boreholes at Palangana. Most of the drilling took place in 2010 (391 holes), 2011 (281 holes) and 2012 (186 holes) and the remaining holes were drilled from 2013 to 2015. The majority of these wells were drilled for delineation purposes and the remainder were drilled for monitoring and production wells. In 2010, UEC activated well fields in the PA-1, PA-2 and PA-3 production area (“PA”) in Palangana. From 2010 to 2016, 563,600 pounds of uranium were produced by ISR methods.


In 2014, UEC conducted a drilling program at Goliad for exploration and water wells. 35 holes were drilled and logged for exploration and water supply purposes, with the majority of the holes being drilled in PA-1 and PA-2.

Burke Hollow

In 2019, UEC completed 129 drill holes, primarily focusing on delineating the lower B1 and lower B2 sands within the proposed PA-1. Additionally, UEC has begun installing perimeter monitoring wells in PA-1. A total of 57 holes were drilled solely for delineation and exploration purposes and 72 holes were drilled for monitoring purposes.

From 2021 to 2022, UEC conducted another drilling program to upgrade a portion of its inferred resources to measured and indicated, to better define the ore body in the proposed PA-1 and to install monitoring wells. 168 delineation and exploration holes have been drilled as of March 7, 2022. 24 of these holes were also used as monitoring wells. This drilling program is ongoing with the goal of completing more monitoring wells.

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No historical data was used in this estimate which only includes data from drilling projects conducted by UEC from 2012 to 2022. 297 new holes were drilled and logged in 2021 and 2022 to complete this estimate.

Mineral resources

This AI for the Project has been prepared in accordance with the regulations set forth in SK 1300 for the purpose of disclosing the Mineral Resources of the Project.

Based on drilling density, continuity of geology and mineralization, testing and verification of data, the Mineral Resource estimates meet the criteria for Indicated or Inferred Mineral Resources as summarized herein.

Resources in place have been estimated separately for each project area. The project has a measured resource of 2.78 million pounds and an indicated resource of 6.34 million pounds of U3O8 in place. The project contains 9.92 million pounds of in-place inferred mineral resources. Tables 1 and 2 below list project resources by project area. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. However, considerations of reasonable prospects for eventual economic extraction have been applied to the mineral resource calculations herein.

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Table 1: Summary of Measured and Indicated Resources for the Texas Hub and Spoke Project

Mineral Resource              GT Cutoff  Average Grade (% eU3O8) Ore Tons (000s) eU3O8 (lbs)
Burke Hollow
Measured                        0.30              0.082                70          114,700
Indicated                       0.30              0.087               1,337       2,209,000
Total Measured and Indicated    0.30              0.086               1,407       2,323,700


Measured                        0.20              0.053               1,595       2,667,900
Indicated                       0.20              0.102               1,504       3,492,000
Total Measured and Indicated    0.20              0.085               3,099       6,159,900


Measured                          -                 -                   -             -
Indicated                       None              0.134                232         643,100
Total Measured and Indicated    None              0.134                232         643,100


All mineral resources at Salvo are classified as Inferred.
Project Totals
Measured                                                                          2,782,600
Indicated                                                                         6,344,100
Total Measured and Indicated                                                      9,126,700


1. Pounds reported with unbalance factor (DEF) applied. 2. Measured and Indicated Mineral Resources as defined in 17 CFR § 229.1300. 3. All reported resources are below the static water table. 4. The reference point for mineral resources is in situ at the project. 5. Mineral Resources are not Mineral Reserves and have no

   economic viability.
6. Delineation drilling conducted at Palangana after 2010 was not incorporated
   into this resource estimate, as in the experience of the QP this type of
   drilling does not generally substantially change the resource estimates.

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Table 2: Texas Hub and Spoke Project Inferred Resource Summary

Mineral Resource          GT Cutoff  Average Grade (% eU3O8) Ore Tons (000s) eU3O8 (lbs)
Burke Hollow
Inferred                    0.30              0.095               2,494       4,859,000
Inferred                    0.20              0.195               1,548       1,224,800
PA-1 and PA-2 Inferred      None              0.100                96          192,500
Dome, NE Garcia, SW
Garcia, CC Brine,           0.10          0.110 - 0.300            206         808,800
Jemison Fence, Jemison
East Inferred
Inferred                    0.30              0.091               1,125       2,839,000
Project Totals
Total Inferred                                                    5,469       9,924,100

1. Pounds reported with DEF applied.
2. A range of grades is presented for the Palangana inferred mineral because the

resource estimation methods differed between PA-1/PA-2 and the rest of the

tendencies. There was no cutoff for the PA-1 and PA-2 block models. See section 11.1

of the TRS for a more detailed explanation. 3. Inferred Mineral Resources as defined in 17 CFR § 229.1300. 4. All reported resources are below the static water table. 5. The reference point for mineral resources is in situ at the project. 6. Mineral Resources are not Mineral Reserves and have no

   economic viability.
7. Delineation drilling conducted at Palangana after 2010 was not incorporated
   into this resource estimate, as in the experience of the QP this type of
   drilling does not generally substantially change the resource estimates.

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The technical information contained in this press release has been reviewed by WWC Engineering, a consultant to the company, and by Clyde L. YanceyPG, Vice President-Exploration of the Company, being a Qualified Third Party Company and a Qualified Person under Section 1302 of Regulation SK.

A copy of the press release is attached as Exhibit 99.1 hereto.

Item 9.01 Financial statements and supporting documents

(a) Financial statements of acquired businesses

Not applicable.

(b) Pro forma financial information

Not applicable.

(c) Transaction with Shell

Not applicable.

(d)       Exhibits

Exhibit   Description
 99.1       News Release dated August 12, 2022.
  104     Cover Page Interactive Data File (the cover page XBRL tags are embedded
          within the inline XBRL document).


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